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Cheap gas can't come from expensive sources: Energy Minister

Muhammad Ali clarified that raising gas prices will not contribute to the growth of circular debt.

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Cheap gas can't come from expensive sources: Energy Minister
GNN Media: Representational Photo

Islamabad: Energy Minister Muhammad Ali recently addressed the media, emphasizing that the increase in gas prices would not contribute to the growing circular debt.

He stated, "We cannot provide affordable gas while procuring expensive gas."

Furthermore, the Energy Minister highlighted the ongoing efforts to curtail losses in the petroleum and gas sector.

He revealed that the gas sector's revolving debt had surged by 400 billion, and similar measures were being taken to mitigate losses in the power sector.

Ali noted that local gas production faced an annual decline of 7-8%, and foreign companies in the sector had exited.

Additionally, Minister Muhammad Ali disclosed that the oil and gas sector was witnessing the import of 16 billion dollars.

He assured that the current gas tariff structure accounted for the welfare of low-income consumers.

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